India Tire Market to See CAGR Over 9% to 2022, States TechSci Research in Its Topical Report Available at MarketPublishers.com27 Jun 2017 • by Natalie Aster
LONDON – India’s tire sector is poised to see nearly a double-digit CAGR (over 9%) to 2022 owing to the rising demand for tires, ongoing infrastructure development and booming buying power amid local consumers. Additionally, India is one of the world’s most rapidly growing economies, and has a thriving service sector alongside a strong manufacturing sector. In India, overall vehicle production has grown to 4.49 million units by 2016-end, a vital factor which is also anticipated to give a boost to the domestic OEM tire market.
Birla Tyres Limited, MRF Limited, Apollo Tyres, Bridgestone India Private Limited, TVS Srichakra Limited, Michelin India Private Limited, JK Tyre & Industries, Goodyear India Limited, Balkrishna Industries Limited, and Continental India Limited, amid others, are some of the prominent players in the Indian tire industry.
New market research report “India Tire Market Forecast & Opportunities, 2012 – 2022” drawn up by TechSci examines the marketplace at a national level.
The study gives an all-encompassing overview of the domestic tire production. It provides an analysis of the country’s market size (value and volume) including forecasts; provides market shares and forecasts by vehicle type, company, region, demand category, radial versus bias, and by rim size; prominent tire sizes; market attractiveness index by vehicle type. The study includes an analysis of the voice of customers, covering brand satisfaction, brand recall, brand switching behaviour, and forces responsible for buying decision. The research study canvasses the ongoing trends and anticipated growth across the segments discussed in the years to come. The research sheds light on the changing market trends & developments and emerging opportunities, market drivers and challenges; policy and regulatory landscape; India economic profile. Import and export analysis, and pricing and price point analysis can also be found in the study. The report also scrutinises the competitive scene and provides profiling the dominant industry players, speculates on the market development to 2022, and offers strategic recommendations.
For more new market research reports by this publisher visit TechSci Research catalogue.